Importance of Management

Defination :-

“Management is defined as the process of planning, organising, actuating and controlling an organisation’s operations in order to achieve coordination of the human and material resources essential in the effective and efficient attainment of objectives.”

According to Robert L. Trewelly and M. Gene Newport

• Management help in achieving group goals :

Management is required not for itself but  for achieving the goals of the organisation. The task of a manager is to give a common direction to the individual effort in achieving the overall goal of the organisation. New  challenges help employees to grow at their own level.

• Management increases efficiency:

 The aim of a manager is to reduce costs and increase productivity through better planning, organising, directing, staffing and controlling the activities of the organisation.

• Management creates a dynamic organisation :

Every organisation must operate in a setting that is ever-changing. It is commonly observed that people in organisations oppose change because it frequently entails leaving a comfortable, secure environment in favour of a brand-new, challenging one. Management aids individuals in adjusting to these changes so that the organisation can keep up its competitive advantage.

• Management help in achieving personal objectives:

A manager inspires and guides his team in a way that allows each member to accomplish personal goals while also advancing the general organisational aim. The management fosters teamwork, cooperation, and commitment to the success of the group through inspiring employees and providing strong leadership.

• Management helps in development of society:

An organization has a variety of goals to fulfil the needs of the many groups that make up the organisation. In order to accomplish all of these goals, management aids in the growth of the organisation, and thus, aids in the growth of society. It facilitates the provision of high-quality goods and services, generates employment opportunities, adopts new technology for the benefit of everybody, and paves the way for economic expansion and progress.